BidaskClub Lowers Genomic Health (NASDAQ:GHDX) to Hold

BidaskClub downgraded shares of Genomic Health (NASDAQ:GHDX) from a buy rating to a hold rating in a research note published on Saturday, BidAskClub reports.

A number of other analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Guaranty Federal Bancshares from a hold rating to a sell rating in a report on Tuesday, April 23rd. Deutsche Bank set a $18.00 target price on shares of Commercial Metals and gave the stock a buy rating in a research report on Thursday, May 30th. Piper Jaffray Companies restated a buy rating on shares of Beigene in a research report on Thursday, June 20th. Canaccord Genuity lifted their target price on shares of ServiceNow from $285.00 to $300.00 and gave the stock a buy rating in a research report on Wednesday, May 8th. Finally, Needham & Company LLC set a $69.00 target price on shares of Genomic Health and gave the stock a buy rating in a research report on Wednesday, June 19th. Nine equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus price target of $64.86.

GHDX stock opened at $57.20 on Friday. The stock has a market capitalization of $2.10 billion, a P/E ratio of 54.48 and a beta of 1.07. Genomic Health has a 52 week low of $50.77 and a 52 week high of $92.18. The business’s 50-day moving average is $54.96. The company has a current ratio of 5.67, a quick ratio of 5.67 and a debt-to-equity ratio of 0.19.

Genomic Health (NASDAQ:GHDX) last released its quarterly earnings data on Tuesday, May 7th. The medical research company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.05. The firm had revenue of $108.80 million for the quarter, compared to the consensus estimate of $106.75 million. Genomic Health had a net margin of 10.35% and a return on equity of 18.70%. The firm’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) earnings per share. As a group, analysts predict that Genomic Health will post 1.46 earnings per share for the current year.

In other news, CFO G Bradley Cole sold 6,471 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $57.08, for a total value of $369,364.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Steven Shak sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $51.38, for a total transaction of $2,569,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 152,025 shares of company stock valued at $8,175,806. 31.30% of the stock is currently owned by company insiders.

Several large investors have recently bought and sold shares of the company. LPL Financial LLC bought a new position in Genomic Health during the 4th quarter valued at approximately $255,000. New York State Common Retirement Fund increased its position in Genomic Health by 28.8% during the 4th quarter. New York State Common Retirement Fund now owns 30,350 shares of the medical research company’s stock valued at $1,955,000 after buying an additional 6,790 shares in the last quarter. BlackRock Inc. increased its position in Genomic Health by 7.6% during the 4th quarter. BlackRock Inc. now owns 2,191,689 shares of the medical research company’s stock valued at $141,167,000 after buying an additional 154,253 shares in the last quarter. Royce & Associates LP increased its position in Genomic Health by 22.8% during the 4th quarter. Royce & Associates LP now owns 1,473 shares of the medical research company’s stock valued at $95,000 after buying an additional 273 shares in the last quarter. Finally, Advisor Group Inc. increased its position in Genomic Health by 34.9% during the 4th quarter. Advisor Group Inc. now owns 1,995 shares of the medical research company’s stock valued at $129,000 after buying an additional 516 shares in the last quarter. 95.51% of the stock is owned by institutional investors and hedge funds.

About Genomic Health

Genomic Health, Inc, a healthcare company, provides clinically actionable genomic information to personalize cancer treatment decisions in the United States and internationally. The company develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, which allows physicians and patients to make individualized treatment decisions.

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Analyst Recommendations for Genomic Health (NASDAQ:GHDX)

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